46% of workers consider taking a second job to keep up with cost of living
- 44% cite a second job is necessary for them to meet their financial needs, while a further 33% say they would do so to have a higher discretionary income
- 57% believe their employer would be supportive of them taking on a second job elsewhere
Sydney, 30 October 2024 – The number of Australian workers wanting an extra source of income reflects current cost-of-living concerns, as almost half (46%) are considering taking on a second job in the next 12 months, new independent research by specialised recruiter Robert Half finds.
Despite inflation results released today showing a slower rise in the September 2024 quarter1, Australians are still grappling with ongoing high living costs from previous rises and are looking to other sources of income to keep up with inflation.
The rise of working two jobs
At 54%, Gen Z are the most likely to seek an additional source of income. With rising interest rates and – in many cases - families to support, Gen X (50%) and Millennial (48%) workers are almost as likely to be considering additional employment while Baby Boomers (30%) are the least likely generation to be considering an extra job to meet the increased cost of living.
The reasons why workers want a second job
The overwhelming majority (85%) of workers would consider a second job solely for financial reasons, with only about 9% of workers seeing it as an avenue to fulfil personal goals and 6% who would do so to build their skillset in a different area or to test a new career path. Those considering or already have a second job cite the following reasons:
Necessary to meet financial needs (44%)
Provide extra funds for discretionary spend (33%)
Pursuit of a personal passion (9%)
A back-up job in case of layoff from the primary job (8%)
To build skills in a different field/to test a new career (6%)
“In the current economic climate, a growing number of individuals are exploring second jobs to supplement their income and enhance their financial security,” says Nicole Gorton, Director at Robert Half. “This trend reflects the economic pressures many Australians are facing, with high living costs prompting them to seek additional sources of income. Taking on a second job is a personal decision that requires careful consideration to find a balance that supports both financial goals and overall wellbeing.”
Workers feel employers understand their needs
Thinking about how employers might react to their staff taking on a second job, more than half (57%) of workers feel their current employer would support them. More than one quarter (27%), however, believe their employer would be against them taking on an extra job.
“Before taking on a second job, it's essential for workers to assess their capacity and ensure they can handle the additional workload without compromising their health or performance in their primary role,” says Gorton.
“For those considering it, they should choose a second job that complements their existing skills and interests. This can make the experience more enjoyable and less burdensome. However, workers will need to check what (if any) obligations they have with their current employer before taking on a second job. A failure to comply with an employer's policy or contractual obligations in this space could have serious implications for workers.
“As more employees turn to second jobs, employers must acknowledge this reality and delve into the factors prompting this decision. While there is a myriad of potential benefits of a multi-skilled workforce like bringing fresh perspectives and innovative ideas to the table, organisations need to ensure they are providing salaries and benefits in line with industry standards to not only retain their staff but to create a supportive culture,” concluded Gorton.
[1] ABS, Consumer Price Index Australia, October 2024
RobertHalf_secondjobs_Oct.pdf
About the research
The study is developed by Robert Half and was conducted online in June 2024 by an independent research company, surveying 1,000 full-time office workers across Australia. This survey is part of the international workplace survey, a questionnaire about job trends, talent management, and trends in the workplace.
About Robert Half
Robert Half is the global, specialised talent solutions provider that helps employers find their next great hire and jobseekers uncover their next opportunity. Robert Half offers both contract and permanent placement services, and is the parent company of Protiviti, a global consulting firm. Robert Half Australia has offices in Brisbane, Melbourne, Mount Waverley, Perth, and Sydney. More information on roberthalf.com.au.
For more information
Courtney Fletcher
PR Manager
Courtney.Fletcher@roberthalf.com.au
+61 421 209 304
